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New scams are targeting VA home loans

The Department of Veterans Affairs is warning veterans about a new scam targeting money for VA...
The Department of Veterans Affairs is warning veterans about a new scam targeting money for VA guaranteed home loans.(Alex Gibbs)
Published: Jul. 18, 2021 at 6:29 PM CDT
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TEMPLE, Texas (KWTX) - The Department of Veterans Affairs is warning veterans about a new scam targeting money for VA guaranteed home loans.

The scammers are claiming to be with the VA or a mortgage company, attempting to convince veterans to refinance their homes, agree to loan modification or even start sending their mortgage payments to a new address. They’re also using fear tactics, trying to convince veterans that their homes are facing foreclosure or they owe late fees.

“One of the biggest things nowadays is that since everyone has smart ID, the scammers can find a new way to disguise themselves as an authentic source,” said Abhijit Nag, computer information systems director for Texas A&M Central Texas.

“If they’re elderly veterans, they may not give them as much time or resources to research and check things, which makes them very susceptible to these scams.”

To stay safe, Nag encourages to not answer the phone if you don’t know the number.

“If they receive a phone call or email, they shouldn’t just click or answer and fill out all the info,” he said.

“One thing any veteran can do is verify where the number is calling from. Sometimes the best thing to do is make a phone call to the VA just to verify all the information is correct.”

Most importantly, if you or a veteran may be a victim of the scam, Nag urges to contact the proper authorities.

“If you get some phone numbers and emails like this, always report it to any law enforcement agency you can, just so they can help minimize all this in the future,” he said.

Authorities press to report scams to the State Attorney General’s office, or the Federal Trade Commission.

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